Latvia, Railways, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 14:49

Pasazieru Vilciens sees 38.3% drop in turnover in H1

BC, Riga, 11.08.2020.Print version
During the first half of 2020, Pasazieru Vilciens rail passenger carrier turned over EUR 21.233 million, which is a decrease of 38.8 percent against the same period a year ago, while the company’s profit fell 10.1 percent year-on-year to EUR 480,283, writes LETA, according to the company’s report.


The company's rail passenger fare income declined by EUR 2.8 million or 30 percent on year in the first half of 2020.

In the first half of 2020, Pasazieru Vilciens carried 6.079 million passengers, which is by 31.4 percent less than the same period in 2019. The decrease in the number of transported passengers is related to the state of emergency declared in the country on March 12 this year, including the largest decrease in the number of transported passengers in April - by 65.6 percent compared to April 2019. In May, the number of passengers resumed growth, showing an increase of 39.6 percent compared to April, but in June, compared to May, the number of passengers increased by 52.8 percent.

Pasazieru Vilciens closed the first half of 2019 with EUR 34.689 million in turnover and a EUR 534,310 profit.

Pasazieru Vilciens was established in 2001 to separate domestic passenger services from other functions performed by the state-owned Latvijas Dzelzcels (Latvian Railway). Although initially Pasazieru Vilciens was a 100-percent owned subsidiary of the Latvian Railway, in October 2008 it was transformed into an independent state-owned company.

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